Bowlero reports Q1 revenue $227.41M, consensus $229.91M

Same store revenue declined 5.5% in Q1. “First quarter fiscal year 2024 met our expectations. Because our first quarter is typically our seasonally lowest quarter, we used this time to test a variety of promotions and new bundled pricing structures. This experimentation drove a meaningful reduction in same-store revenue from late July through early September. Based on what we learned, we quickly struck the right balance between mid-week and weekend pricing and got a deeper understanding of our different customer segments. Same-store revenue turned positive in mid-October. We are happy with those results and continue to push forward with our plan to ensure double-digit revenue growth this year,” said Thomas Shannon, Chief Executive Officer and President.